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Marriott (MAR) PT Bumped to $84 at Canaccord Genuity

May 4, 2016 9:30 AM EDT
Get Alerts MAR Hot Sheet
Price: $252.25 -0.52%

Rating Summary:
    15 Buy, 22 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Canaccord Genuity analyst Ryan Meliker bumped his price target on Buy-rated Marriott International (NASDAQ: MAR) to $84.00 (from $82.00) following a solid 1Q beat despite soft 1Q RevPAR growth. But MAR reiterated full-year RevPAR growth guidance highlighting a material acceleration in RevPAR growth through the remainder of the year.

commented, "With group revenues on the books up 7% and increased transient pricing power from the group strength, barring a recession,
we expect RevPAR growth to meaningfully accelerate. As we don't forecast a nearterm recession, which would drive transient demand to slow materially, we expect RevPAR growth to accelerate, driving the stock higher. Additionally, we estimate the HOT acquisition will drive $3 per share value, before we include any potential revenue synergies, which we believe could be material. Additionally, upside to HOT's EBITDA and EPS level following the 1Q beat and guidance raise lead us to believe that the HOT transaction could be accretive on EPS as early as 2017. As such, we reiterate our BUY rating on MAR and raise our price target $2 to $84."

For an analyst ratings summary and ratings history on Marriott International click here. For more ratings news on Marriott International click here.

Shares of Marriott International closed at $70.10 yesterday.



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Canaccord Genuity, Definitive Agreement